Question: What Is The Difference Between Developed And Developing Countries?

What is difference between developed and developing country?

A country having an effective rate of industrialization and individual income is known as Developed Country.

Developing Country is a country which has a slow rate of industrialization and low per capita income..

Which are the developing countries?

List of developing countriesAfghanistan.Albania.Algeria.American Samoa.Angola.Antigua and Barbuda.Argentina.Armenia.More items…

What are the characteristics of developed and developing countries?

CHARACTERISTICS OF DEVELOPED AND DEVELOPING COUNTRIES (DEVELOPED COUNTRIES…DEVELOPED COUNTRIES. High per capita income. Low incidence of poverty. High standard of living. Narrow income inequalities. … DEVELOPING COUNTRIES. Low standard of living. Low per capita income. High incidence rate of poverty.

What are the main features of underdeveloped economy?

However, there is a set of common characteristics of underdeveloped economies such as low per capita income, low levels of living, high rate of population growth, illiteracy, technical backwardness, capital deficiency, dependence on backward agriculture, high level of unemployment, unfavourable institutions and so on.

What do you mean by developing economy?

A developing economy also called a less developed economy or underdeveloped country is a nation with an underdeveloped industrial base, and a low Human Development Index (HDI) relative to other countries. … Also, the general term less-developed economy should not be confused with the specific least developed country.

What is the main difference between developed countries and developing countries answers?

Answer. 1-The countries which are independent and prosperous are known as Developed Countries. The countries which are facing the beginning of industrialization are called Developing Countries. 2-Developed Countries have a high per capita income and GDP as compared to Developing Countries.

What is the difference between developed and developing economy?

In a developing economy a country relies on its natural resources. A developed economy refers to a country with a relatively high level of economic growth and security.

What is an example of a developing country?

Developing countries include: Argentina, with a per capita GDP of $12,494. Brazil, with a per capita GDP of $8,727. … China, with a per capita GDP of $8,123.

What are 3 differences between developed and developing countries?

The two categories are developed nations and developing nations. Developed nations are generally categorized as countries that are more industrialized and have higher per capita income levels. … Developing nations are generally categorized as countries that are less industrialized and have lower per capita income levels.

What are 5 characteristics of a developing country?

Characteristics of Developing EconomiesLow Per Capita Real Income.High Population Growth Rate.High Rates of Unemployment.Dependence on Primary Sector.Dependence on Exports of Primary Commodities.

How a country is called developed?

A developed country—also called an industrialized country—has a mature and sophisticated economy, usually measured by gross domestic product (GDP) and/or average income per resident. Developed countries have advanced technological infrastructure and have diverse industrial and service sectors.

What are the features of developed economy?

The main features of developed economies are:Have a high level of per capita income or output.The people enjoy a higher quality standard of living.Contribution of industrial and service sectors are very high.Available resources are fully exploited and utilised.They have a high degree of technical development.More items…•